Ultralight Aircraft Market: Overview
The ultralight aircrafts are specially designed basically for the recreational purposes, that is, for short distance flying. The ultralight aircrafts are alternatively also known as microlight aircrafts. The ultralight aircraft’s definition, weight, and the speed limits vary region wise.
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Ultralight Aircraft Market: Facts
In the U.S., a pilot does not require a license in order to fly a legal Part 103 ultralight aircraft. If the single place aircraft has more than 254 lbs. of weight then the pilot should have a license and must be built as amateur, experimental, and homebuilt aircraft.
Ultralight Aircraft Market: Segmentation
The global market for the ultralight aircraft is fragmented into its engine type, aircraft type, and application. Based on the type of the engine, the global market is segregated into fuel powered and electric. Based on the type of the aircraft, the market is categorized into fixed wing, rotary wing, and flex wing. Based on the application, the market is divided into recreation, defense, and commercial.
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Ultralight Aircraft Market: Growth Factors
The key factor that is driving the ultralight aircraft market is the growing expenditure on the recreation and the sports. The ultralight aircrafts are driven by the amateur pilots for traveling for short distances which are becoming popular in the sports activities. The development of the lightweight aircrafts and that too with high speed by the OEM is increasing the demand for the ultralight aircrafts. The other factors that are positively affecting the growth of the ultralight aircraft market are reduced operational cost, ease of the maintenance, and the economical purchase. In the coming years, the demand for the ultralight aircraft market will increase as it provides the facility of being flown in smaller fields. In the recent years, the regulations for the ultralight aircraft that have single seat have been modified which opened up new opportunities and have attracted new customer base thus augmenting the growth of the market. The factors that will hamper the growth of the market are decreasing demand for the aviation sector, lack of standardization in the pilot certifications, and the increasing concerns related to the ultralight aircraft.
Ultralight Aircraft Market: Regional Analysis
The developments that are made in the field of tourism in the emerging economies of Asia Pacific region has opened up several opportunities for the OEM for increasing their sales. In Asia Pacific region, there are many countries that are developing and are becoming the new manufacturing hubs. Owing to the above-mentioned factors the ultralight aircraft market is developing in Asia Pacific region which will continue in the coming years. In the North American region, the ultralight aircraft market will develop significantly owing to the increased rate of deregulations and the OEM’s increased focus on improving the services and the product. The factor that will favor the growth of the market in the Middle East and Africa is the increasing rate of opportunities in the tourism.
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Ultralight Aircraft Market: Competitive Players
The key market players that are involved in the ultralight aircraft market include Aeropro s.r.o, Cub Crafters, Inc., Evektor, Spol. s.r.o, American Legend Aircraft Co., Costruzioni Aeronautiche Tecnam s.r.l., Cirrus Design Corporation, Quicksilver Aircrafts, Flight Design General Aviation GmbH., Jabiru Aircraft Pty. Ltd., P&M Aviation, Pipistrel d.o.o., and ATEC, v.o.s.
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